Get a secured credit card with the amount you need to pay your monthly credit card payments, lets say after adding all credit cards payments your total is $300. Well you get a secured credit card and load $350.00 in the card so your available balance will cover for all credit card payments. Now don’t forget some companies charge an activation fee, monthly fee or yearly fee make sure you add money to cover those expenses too.
After getting the secured credit card you need to start making the payments using that card. the reason you do this is cause when you use this card to make payments you will be eliminating your credit card debt and at the same time you will be establishing a positive credit history. make sure the card you get is not a debit card, you need a secured credit card that reports to all 3 credit reporting agencies.
Once you reach your goals by eliminating your credit card debt you will make sure to keep building a positive credit history for several years by using small amounts and taking your time to payoff the whole amount in one month if thats not posible due to the amount is too low then use it for gas or groceries but make sure you don’t use more that 70% of the card. just use it for small things cause if the amount you owe is more that 50% your score will drop untill you reach again a higher available balance.
hopes this help and good luck with your credit card debt condolidation journey

Good luck guys……………………….

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If you are in debt & finding it difficult to pay your bills, credit counselling can be a financial lifesaver. The right counselor can advise you on how to make use of credit wisely; help you establish a workable budget, keep track of your bills & manage your money; &, if appropriate for your situation, arrange a repayment plan together with your creditors. In short, a trained & certified specialist can place you on the track to financial security.
How Credit Counselling Works
Three times you have selected a reputable credit counselling agency, you will be asked to provide information about your income, expenses & debts. The counselor ought to analyze the information, speak about your situation with you & make recommendations to help you address your financial issues. These suggestions may include participation in an educational class, enrolling in a debt-management/repayment plan, or referral to another organization, such as a relationship counselling or state employment agency, for assistance to address any non-financial situations you may be experiencing.
Choosing an Agency
In case you pick to work with a credit counselling agency, spend some time researching your options & take care to pick a reputable agency. Your objective ought to be to discover a credit counselling agency that has satisfied clients, offers personalized service from trained counselors, can educate you how to make appropriate financial choices & will give you the tools you need to accomplish financial security.
•Carefully evaluate adverts. because a credit counselor has a large marketing budget does not necessarily mean it is the best! Also, you would be wise to ignore phone calls or e-mails that arrive “out of the blue” from credit counselors offering their services. Nice credit counselors often depend on past clients for referrals; they do not need to solicit business through constant tv marketing, infomercials, telemarketing or spam e-mails.
•Interview several agencies. In case you know somebody who has used such an agency historicallyin the past, ask them for a recommendation. Or, ask friends or relatives who they would think about in the event that they needed budgeting advice. You can also find credit counselors in the Yellow Pages, by contacting the National Foundation for Credit Counselling (http://www.nfcc.org) or the Association of Independent Consumer Credit Counselling Agencies (http://www.aiccca.org) for a list of members or by using an Web search engine.
•Is the agency licensed & accredited? Lots of states need that a credit counselling organization register or get a license before offering credit counselling, debt management designs & similar services. Do not hire an organization that has not fulfilled the requirements for your state. Also, ask if the firm is a member of the National Foundation for Credit Counselling or the Association of Independent Consumer Credit Counselling Agencies & double-check that information at the respective Web-site. Agencies that are members of these organizations must adhere to strict standards of professionalism & accreditation & use only certified credit counselors.
•Consider the qualifications of the advisors. Ask if the advisors are certified & by whom? Try to pick an agency whose counselors are certified by an outside organization. You will also need to ask how the agency’s employees are paid. Steer clear of organizations that pay employees a commission; that might well influence the number or nature of services they pick you need.
•Are services personalized? A cookie-cutter approach most likely won’t address your financial situation. Find out if the counselor will devise a plan tailored to fit your personal circumstances. Also, think beyond your immediate credit/debt issues & find out if the agency will offer you advice on avoiding issues in the future.
•What about privacy & security? What assurances do you have that the agency will keep information about you confidential? Does the agency have a privacy owner & are you comfortable with its terms? If not, select another agency. Security practices are also of importance. How does the credit counselor protect the security of client information?
•Gain a clear understanding of the services offered. You ought to seek an organization that offers a range of services. For example, ask if the services include educational classes or counselling & on what subjects. Will you have the chance to speak about your financial situation with a counselor & get assistance in developing a personalized plan? What kind of services do they provide regarding debt repayment designs?
•Check their complaint records. Contact your Better Business Bureau, state Attorney General & local consumer protection agency to find out about specific credit counselling organizations’ records. If consumers have filed complaints against the firm or if the counselor has not been responsive to complaints; that could indicate issues.
•Get verbal promises in writing. Only do business with agencies that offer formal written agreements or contracts. Carefully read through the terms of agreement or contract. It ought to describe in straight-forward fashion the services to be performed; the payment terms for these services, including total cost; how long it will take to accomplish results; any guarantees offered; &, the counselor’s name, business name, address & contact information.
•Fees. Receive a clear presentation of the fees you will be charged. If there’s fees (setup fee, every month service charges), the agency ought to describe what they are based on. In general, you ought to not expect to pay over $75 in setup fees or make a every month payment that exceeds $40. This every month payment fee is subject to state law, & the agency representative ought to be able to tell you the specific regulations for your state of residence. The agency ought to even be willing to advise you how your money will be protected. Finally, think about the total of the various fees; when added to your every month debt, will the cost defeat your efforts to pay down your debt? In case you are financially destitute, ask if the organization waives or reduces fees for people in your circumstance. If not, look elsewhere.
•Ask how the agency is funded. Most credit counselling agencies are partially funded through voluntary contributions from creditors who participate in Debt Management Designs. (Creditors have a business interest in receiving their payments, so most of them are willing to help support participating credit counselling agencies.) Go elsewhere for assistance if the credit counselling agency refuses to speak about its funding sources. If the agency claims to be tax-exempt or not-for-profit, double-check together with your state charity official (for contact information, visit the Web-site of the National Association of State Charity Officials at http://www.nasconet.org). Some credit counselling organizations using open to doubt practices have sought tax-exempt status in order to circumvent consumer protection laws. Finally, bear in mind that irrespective of how the agency is funded, your creditors ought to always be credited with one hundred percent (100%) of the amount you pay through a credit counselling agency.
•Are budget & credit schooling opportunities offered? Reputable organizations are willing to help you manage your finances through counselling & schooling. Ask if the agency offers workshops or educational materials. Are they obtainable at no cost? Are they obtainable online or can the materials be mailed to you? If the agency insists that a debt management plan is the only option for clients, look elsewhere.
Debt Management Designs
A debt repayment or debt management plan (DMP) is a creditor-approved arrangement that lets you repay your unsecured debts at reduced rates of interest. The credit counselor will negotiate with creditors to reduce rates of interest, eliminate late fees or other penalties. In turn, you will be expected to make a regular every month payment to the credit counselling agency. In lieu of writing several checks to various creditors each month, you make one payment (usually electronically) to the counselling agency. Your payments are then used to pay your creditors according to a payment schedule the counselor has developed in consultation with you.
Some credit counselling agencies charge a modest every month fee for managing the plan; others charge a more significant fee. Agencies that are members of the National Foundation for Credit Counselling & the Association of Independent Consumer Credit Counselling Agencies (AICCA) are bound by standards that limit the charges for their services. Some states also have strict limitations. Before enrolling, ask what the cost will be. If the fee is high or you are asked for a large “voluntary” contribution, then you may need to think about selecting another agency.
A successful DMP usually takes 30 to 60 months to complete. Recognize that you will be expected to agree to not apply for any additional credit & not incur any additional debt while you are participating in the repayment plan.
In case you are enrolled in a DMP, the agency ought to provide regular statements to you showing how your money were distributed. In case you discover that your creditors are not being paid, contact the counselling firm immediately.
DMPs usually cover only your unsecured debts. In case you have secured debt – such as a automobile loan or a mortgage – you must continue to make payments to these creditors directly or you could lose your property. Ask which debts will be included & excluded from the DMP.
Finally, while it is best to be optimistic regarding the success of your DMP, you ought to think about what happens in case you cannot maintain the agreed-upon plan. For example, in case you are unable to make payments to your DMP, you may lose associated benefits, such as lower rates of interest & fee waivers.
Red Flags That Signal Trouble
The following can indicate that a specific agency is not abiding by nice business practices.
•Demands that you provide account numbers or other financial details before it will speak about its services or fees. Reputable credit counselling agencies are happy to provide free information upfront about their services.
•Boasts that it can “lower your every month payments by 30 to 50%.” This bold statement is seldom, if ever, true.
•Promises that it can “get you out of debt basically.” This is an irresponsible marketing claim. Getting out of debt is seldom an “easy” task. Avoid counselors who promise a fast & straightforward way to fix your credit issues.
•We won’t need much time. Steer clear of any agency that claims it can evaluate your situation in minutes, or that offers to do so quickly over the phone. If services are provided over the phone, make sure the counselor is evaluating your personal situation, & not speeding to provide generic advice that could apply to any consumer. Experienced counselors might need to spend close to an hour with you reviewing your financial situation before recommending how to address your financial condition, & may offer follow-up sessions.
•Claims that it can remove negative information, such as bankruptcy, from your credit document. It is illegal to make such a representation if the negative information reflects your true credit history. Correct information cannot be removed from a person’s credit document.
•Issues a blanket recommendation for a debt management plan. DMPs are not for everyone. Do not agree to establish one unless & until you have reviewed your personal situation with a certified credit counselor who recommends such a plan & then customizes the plan to best manage your debt.
•Requires “voluntary” contributions. Necessary “voluntary” contributions are not voluntary!
•Is reluctant to provide the organization’s business name & address. This is a clear sign of imminent fraud. A toll-free phone number or e-mail address is not sufficient. Scam artists usually avoid providing their physical location to thwart law enforcement detection.
•Insists that you make an immediate decision. Reputable credit counselors will permit you time to evaluate their offer, shop around & make a determination that most accurately fits your financial situation. As you are doing your research, however, keep in mind that timing is critical when addressing your financial situation. Delays may cause your circumstances to worsen.
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About ClearPoint (www.clearpointcreditcounselingsolutions.org )
ClearPoint Financial Solutions is a national 501c3 nonprofit credit counselling agency licensed to operate in all 50 states. ClearPoint’s mission is to help individuals who are struggling with debt regain financial control over their lives through schooling. Our accredited financial specialists provide budget, housing & bankruptcy counselling in person, over the phone or by the Web to over 50,000 people a year. They teach consumers how to manage their money better, pay down debt, & save for a secure financial future. ClearPoint is a system-wide Accredited Business of the Better Business Bureau. They are a member agency of the National Foundation for Credit Counselling, & meet the highest standards of the Council on Accreditation
About BBB (www.us.bbb.org)
BBB is an unbiased nonprofit organization that sets & upholds high standards for fair & honest business behavior. Businesses that earn BBB accreditation contractually agree & adhere to the organization’s high standards of ethical business behavior. BBB provides aim advice, free business BBB Reliability ReportsTM & charity BBB Wise Giving ReportsTM, & educational information on topics affecting marketplace trust. To further promote trust, BBB also offers complaint & dispute resolution support for consumers & businesses when there is difference in viewpoints. The first BBB was founded in 1912. Today, 126 BBBs serve communities across the U.S. & Canada, evaluating & monitoring 4 million local & national businesses & charities.

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Financing a car is dumb. Financing anything that has no way of holding its value and returns you no cash flow is financial suicide. You can consider financing a truck for your business, if the truck itself makes you a thousand dollars a month or something, but individuals should never finance a vehicle. You would be better off renting one for long trips (which is actually a good idea – let someone else pay the insurance and wear and tear). No, you need to buy your vehicles with cash, and that means paying off your current car loans, and then continuing to make car payments, but make them to yourself. In just a few years, you’ll have enough money to buy a car with cash, and keep all your cash flow in your own pocket, instead of some dude driving a ferrari who sold you a yugo.

next, never buy new cars. You can get a car that is basically new and actually profit a bit from someone else’s impulsiveness. The last car we bought my mom was paid for with cash. It was a 2005 SUV with 7,500 miles on it. It had all the trimmings. The exact same model on the dealer lot was close to $40,000.000. Because it was “used” and just out of new model year status, AND we were paying cash, we got it for right at $22,000 dollars. That’s right, almost half price. We kept $18,000.00 of our own money for the same vehicle, and that;s not all. If you financed the forty grand, you would also be giving up an extra eight thousand five hundred dollars in interest. Meaning we spent $27,000.00 less than the average sucker who financed the same car new off the lot. And all we gave up was 7,500 miles on the odometer.

Doing things like that: keeping $27,000.00 you might have spent on a car over four years, keeping $48,000.00 you might have spent on a house over four years, saving a couple of hundred dollars a month on the smaller house in lower electric and heating costs can add up to some really big numbers pretty fast. In our scenario, the person bringing home $4,000.00 a month who uses these principles can end up completely debt free and have a whopping $250,000.00 in the bank at the end of ten years!

Now, all of this means you’re going to have to make decisions about your money every single day for the next ten years. Do I spend it – or keep it? Do I get another year out of this car while I save for another one – or get silly and walk onto the dealer lot because they have balloons? Those may sound like tough decisions, but you’ll find out that keeping your money gets a little addictive after a while. You’ll find yourself thinking things like: if I get two more years out of this car and then buy a nice, cheap used one, I can take a vacation to Paris for two weeks!

Now, money is there to spend, because, of course, you can’t take it with you. You don’t have to leave a huge pile to the kids, they can make it on their own. So yes, you should own nice things and go nice places, but you have to do so in a way that doesn’t leave you bankrupt. And that’s how financial discipline works. If you make out a new budget right now that only spends 50% of your cash flow, you’ll be completely debt free and on easy street faster than you can imagine. Spend on decade getting your financial discipline down pat, and you’ll never have to worry about money ever again. That’s what your grandad meant by discipline – doing the right things over and over again until you are completely free.

Now that you’re on a cash system, you need to figure out the best and fastest way to get back a chunk of cash flow. The easiest way, of course, is to file for bankruptcy. Doing this will let someone else tell you how to do this. You’ll lose everything you own but you’ll get all of your cash flow back all at once. Which is why you shouldn’t do that. You may not be able to keep everything, but you don’t have to lose it all either. Besides, if you don’t figure out how to do it yourself, you’ll just end up right back where you are now ten years later.

So, when we look at our example from above, the biggest chunk of your cash always goes to your house. I know you’ve grown attached to it in some ways, and you feel like it has some powerful sentimental value or something. Get over it. It’s just sticks and bricks and paint. A home is where your family is. And your family will be much better off somewhere a lot cheaper with more money to spend on family things. I know that most people recommend cutting back on entertainment choices, like amusement parks and tell you to just go to public parks instead. But honestly, four hundred bucks here and there is nothing like getting back $750.00 every single month by downsizing the house.

You see, it wasn’t always like this. Just fifty years ago houses were teeny tiny by today’s standards. My dad grew up in a house that was just under nine hundred square feet. He and his brother always shared a room and they both turned out just fine. As a matter of fact, they both ended up with doctoral degrees. Everyone having their own space is silly. Smaller homes reinforce the sense of togetherness. besides that, most young couples lived at home until they could buy or build one of their own. For thousands of years that’s the way it worked. Now, we boot kids out of the house as soon as they turn 18 and expect them to have their own place. Bah, I love my kids, I hope they never leave. Imagine the fun we could all have with all of that cash flow and no debt?

Unfortunately, your parents probably don’t want you back. If they do, move right this instant. Pay their bills in exchange for not having a house payment. But at the very minimum you need to turn that $1,950 house payment into something more like $950.00. Most people could very happily live in a house that is worth half as much as their current house. It’s going to take a little getting used to, but it will almost instantly cure a big bunch of your credit issues. Instead of trying to work out the small things, whack away at the big one.

We still don’t have a car or a house yet, or any furniture for that matter, so let’s see where the rest of it goes. Very few lenders will allow someone to borrow more than about 48% of their income to buy a house, which means your payment can’t be higher than $1,920.00 dollars. But my goodness, that’s a LOT of house. Are you sure you need that much house? If you max out your borrowing power for your house you have $800.00 left over to buy furniture, go out to eat, go to a movie, vacation, oh – and get a car.

But you want a nice car (or three) to go in that nice big garage you’ve got. So you lease, or go to a bunch of “sales” and end up with $750.00 a month in car payments. But you’ve still got insurance and gas to pay for, but only fifty dollars a month to spend. And you still don’t have that big screen TV you want or a couch to watch it on. So you tighten your belt for a month or two and then get a credit card and trade another $250.00 a month of your cash flow to get the house all gussied up. And then, you decide that you need a vacation.

It’s obvious that you are already bankrupt. You have more expenses than you can pay for with your income. And the only way out of the situation is to get some of your cash flow back to deal with the rising mountain of debt. The problem is that all of your cash flow is committed to someone else’s pocket. You don’t have a dime. You’ve got lots of stuff, but it belongs to other people. Your cash flow has become their cash flow. It’s not long before you’re missing payment, defaulting on some of the small loans – and before you know it you’re credit is a train wreck and you don’t have any idea how to fix it.

You may be one of those folks who never made much money at all. I know I was for the longest time. I never had a chance to build a good credit history because I always spent more than I earned trying to have more stuff than I could afford. I never had good credit and lost it, I never had good credit at all – that is, until I got really protective about the cash flow I did have.

I know what some of you are thinking. All I need is more income and everything will be ok. Wrong. You are spending every dime and more right now, more dimes will just fly right out the window after them. You have to change your habits before you can fix your credit, until you do that, more income will just make your problems worse. But you can fix your bad credit, all it takes is a little downsizing and some time.

Odd analogies aside, it’s not going to be easy to fix your bad credit history. the key word there is history. It took you some time to get into the mess you’re in, it’s going to take you some time to get out again. Actually, fixing bad credit isn’t really hard, not like scaling mount Everest hard, but it is going to take something that very few people seem to take the time to develop – discipline.

Discipline involves making some decisions about your lifestyle and money habits over a period of time. It involves patience and persistence. Wow, there are a lot of big words that sound like your grandad, I know, but there really isn’t any other way around it. Part of the reason your parents and grandparents harped on those things is that they knew you would figure out the easy stuff, like falling in love, but that subjects and issues like discipline were going to need some reinforcement. So what exactly does financial discipline mean?

Well, the pursuit of discipline is the same no matter what you apply it toward. Discipline in fitness means exercising consistently and eating right every day for years at a time. You have to concentrate and practice to get good at it. And that means you’re going to have to make some choices before hand, and then learn to stick with those choices for days and weeks and months and years – and decades. A lifetime in fact. But if you really want to fix your bad credit, you’re going to have to change the way you think about and deal with money starting right now, and moving forward for the rest of your life. Every single day is a chance to not only fix bad credit, but gain true financial freedom from credit.

A certain amount of credit may seem necessary, but that’s not entirely true either. Credit is the process by which you give away part of your cash flow over a period of time to someone else, in exchange for a lump of cash now. The only kind of credit that might be required, and only because of the way families operate these days, is house credit. Everything else is just a waste. You need to think about your cash flow in an entirely different way before you can begin to make good financial decisions.